In 1972, Which Organization Recommended That Publicly Held Organizations Establish

question 50

Multiple Choice

In 1972, which organization recommended that publicly held organizations establish audit committees?

• A)SysAdmin, Audit, Network, Security (SANS) Institute
• B)Association of Information Technology Professionals (AITP)
• C)Securities and Exchange Commission (SEC)
• D)National Council of Examiners for Engineering and Surveying (NCEES)

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Definitions:

Total Assets

The sum of all assets owned by a company, including cash, inventory, property, and equipment.

Comparative Income Statements

Financial reports that provide a side-by-side comparison of a company's income, expenses, and net earnings over different periods, facilitating trend analysis and performance evaluation.

Horizontal Analysis

A financial analysis technique that compares historical financial data over a series of reporting periods to identify trends and growth patterns.